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20121201
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, makes $174,000. >> pelley: nancy, thank you. washington state's new marijuana law went into effect today, make together first state to legalize the drug for recreational use for people 21 or older. john blackstone tells us those that are supposed to enforce law are a little foggy on the details. >> reporter: at seattle police headquarters, jonah spangenthal lee was given the task of explaining the state state's new marijuana law on an online guide. >> what do you call it? mari-what? the guide to legal pot use in seattle. >> reporter: a lot of people are saying, thattix. it will take a year for the state to write regulations for selling marijuana illegally. for now, that leaves some confusion gaffes. for example, it's still illegal to smoke pot publicly, but last night teem peepdid. let me get this straight-- you can possess it, you can buy it, but nobody is allowed to sell it. >> that's correct. >> reporter: and nobody is allowed to grow it right now, either. >> that's correct as well. >> reporter: so how do you get legal pot? >> i couldn't tell you. >> reporter: the new law passed with
jersey. are you paying attention to what's going on in washington right now? >> of course we are. >> reporter: the mejia's $50,000 a year income puts them almost in the middle of american households. if the payroll tax cut is not extended, those families would pay an average of $1,035 a year more in social security taxes. do you have room to cut back? >> no, sir, i don't. i guess we'll do some type of magic like we do every month here in our household, that's what i call it. >> reporter: if the tax cut expires, pay cut contributions will go from 4.% to 6.2%, that's $115 billion a year that will go to deficit reduction instead of being pumped into the economy. heidi cherholts is an economist. >> it's less money for consumers to spend that means the demand for goods and services will drop. who provides goods and services? workers. so employment will fall. >> reporter: those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. with although mejia says that somewhere will mean doing without some of the basics. >> might be a p
, the country deserves folks in washington willing to compromise on behalf of the greater good. he was talking about a budget deal to avoid the fiscal cliff and he said he wanted it by christmas. nancy cordes is on capitol hill for us tonight. nancy? >> reporter: well, scott, it now looks like that is in doubt. aides on both sides today told us that the talks, which had been moving so quickly over the weekend, have slowed to a crawl and the president and speaker boehner traded ultimatums today. never a good sign this close to the deadline. >> and i hope that the president will get serious soon about providing and working with us on a balanced approach. >> reporter: house speaker john boehner warned today there will be no deal until the president agrees to more spending cuts. the president said he's cut enough. >> if you look at the package that i've put forward it is a balanced package by any definition. and we have put forward real cuts in spending that are hard to do in every category. >> reporter: mr. obama's most recent offer includes roughly $850 billion worth of spending cuts and raises
of rain on the northeast u.s. >> pelley: dean, thanks very much. wo we is a chill in washington over those fiscal cliff negotiations. in less than two weeks, there's roing to be a big tax increase americans and across the board t ts in the federal budget. the speaker of the house, and the president are trying to negotiate a solution, but prey're deadlocked on the question of raising taxes. president obama has proposed an $er taxes for households making more than $400,000. speaker boehner wants a tax increase only for households making a million or more. house is going to vote on that coposal tonight, and nancy cordes is on capitol hill for us. nancy. >> scott, shortly before that vote was due to take place house speaker john boehner announced he was canceling it with no democratic support, he needed almost every republican to get on board. and in the end he didn't e ve the votes. negotiations between speaker boehner and the white house ground to a halt today as everyone watched to see if he and house republican leaders would get the votes they needed to pass plan b, a bill preventing tax r
have no idea what's going to happen in washington. lee cowan has that part of the story. >> reporter: joanne is running the numbers. her payroll is due this week. although she at least now has a hint of what taxes to withhold from her dozen employees, that's only half her worry. unresolved spending cuts are the other. >> it's very uncertain and very unnerving and very... causes a lot of anxiety and a lot of lack of sleep. >> reporter: she's the president of golden state magnetic and penetrant, a $2 million a year los angeles company that inspects, cleans and paints high-tech aircraft and aerospace parts. everything from fighter jets to mars rovers. any cuts in defense spending could mean cuts in her business too. and waiting has her on a fiscal cliff of her own. what does it do to there's another month, two months, three months of this? >> it could potentially impact the entire year. it doesn't allow you to make any plans or focus on what your future expansion or growth or anything is. >> reporter: it could shoot a hole in your whole year. >> yes. reporter: california has the most wo
Search Results 0 to 4 of about 5